Marketing Basics for DAA Retailers Roundtable

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Strategy to help retailers get better marketing results by concentrating on their ideas customers. Discussion of different marketing strategies including in-store, online, suggestive sales, and some on strategic partnerships. Some cost and time factors to consider. Part 1 of 3 part series for Downtown Austin Alliance Retailers Roundtable.

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  • At table, decide if same marketing strategy applies to hard and soft goods. Justify, All vote.
  • Jan puts up and goes on to video
  • Vote – more existing, new or prospects
  • Photo from http://www.flickr.com/photos/24761036@N00/2852930881/sizes/m/ - Statues at Swanston St, Melbourne at BourkeHave them define RAW clients
  • Focused on the past (problem), future (opportunity), present (status quo) VOTE on which more relevant to them.
  • Jan Give basics see if relevantTexan, author, worked in retail small & large, love to teach and learn, work with husband of 30 years, grandfather had furniture/hardware stores with his brothers, uncles had business togetherLived in IL, VA, CO, England, Mexico, Dallas; led trade missions to Ecuador and Japan,CEO, Worked for the state, volunteer for City Art Fair, Farmers Market,,Humane Society DAA events stroll, RG4NSmall Business AdvocateUp early to feed animalsJan and Dan show
  • Jan
  • Jan
  • QR code for my blog owners view.com. Who uses these?
  • Jan
  • Jan - 2/3 use their loyalty, frequent shopper card at least weekly; 85% use it at least monthly; can be costly – maintenance and marketing 5-30 Million; 50% of retailers offer loyalty programs.65% of shoppers consider frequent shopper programs important in their decision to buy http://www.santella.com/index.html
  • Jan
  • Photo from http://www.flickr.com/photos/innovision/3563008885/sizes/m/#cc_license
  • Marketing Basics for DAA Retailers Roundtable

    1. 1. Marketing Basics<br />Presenters:Jan Triplett, Ph.D.<br />Dan Diener<br />Business Success Center<br />Hashtag #DAA Marketing <br />.<br />©Business Success Center., Austin, TX 2011. All rights reserved.<br />1<br />
    2. 2. © Business Success Center, Austin, TX 2011 All rights reserved.<br />2<br />Your Passion, Our Expertise<br /><ul><li>Sales, marketing, and financial strategists
    3. 3. 28 years of successful results for service & product businesses
    4. 4. Award-winning
    5. 5. Professionally certified
    6. 6. Proud to be green</li></li></ul><li>3<br />Who are you?<br />
    7. 7. ©Business Success Center, Austin, TX 2011. All rights reserved<br />4<br />Wish there were more in your store? Or that there were better ones?<br />
    8. 8. Find<br />Acquire<br />Reinforce<br />Retain<br />© Business Success Center, Austin, TX 2011 All rights reserved.<br />5<br />Think FARR, Go Far<br />Go for “Yes” customers, fire the “No’s” <br />
    9. 9. “The purpose of business is to create a customer. Marketing is the distinguishing, unique function of the business. It is everything seen from the point of view of the customer.”<br />©Business Success Center, Austin, TX 2011. All rights reserved.<br />6<br />Marketing Defined<br />Peter Drucker, Mgmt “Guru”<br />
    10. 10. Types of Customers<br />All go through same buying steps<br />Best customers high on willingness & desire<br />Suspects<br />Prospects<br />Existing<br />Former<br />© Business Success Center, Austin, TX 2011 All rights reserved.<br />7<br />Desire to Willingness<br />Willingness<br />Desire<br />
    11. 11. © Business Success Center, Austin, TX 2011 All rights reserved.<br />8<br />Some Customers You Want, Some You Don’t<br />•Platinum & Goldcreate stability•Silverhas potential•Bronzeis uncertain•Lead is a time waster<br />•Concrete is a business killer – never satisfied<br />•Radio Active Waste is a long-lasting reputation reducer<br />
    12. 12. Problem<br />Solved<br />Reduced<br />Eliminated<br />Prevented<br />Opportunity<br />Created<br />Used<br />Status Quo<br />Maintain<br />Purchasing is emotional, not logical. Do your products give customers what they want?<br />© Business Success Center, Austin, TX 2011. All rights reserved<br />9<br />Do your products provide the right outcome?<br />
    13. 13. Profiles & Personas (stories)<br />Write out your Platinum Customer Profile™<br />Am I your customer?<br />Is he your customer?<br />©Business Success Center, Austin, TX 2011. All rights reserved.<br />10<br />• Demographics<br />• Psychographics<br />• Risk<br />• Decision Style<br />• Buying Behavior<br />• Game• Food Relationship<br />Why are they relevant?<br />
    14. 14. Short Term<br />Money<br />Long Term<br />Money<br />Lower cost to find, acquire, retain<br />Buy more profitable products & services<br />Responsive to Upselling<br /> & Cross Marketing<br />Value<br />Influencer<br />Idea generator<br />Referral source<br />Quality Control<br />© Business Success Center, Austin, TX 2011 All rights reserved.<br />11<br />Focus on Your Best Customers <br />
    15. 15. Positioning Basis — Value, Total Solution, Innovation<br />What to position — Product and Store<br />How this relates to competition and competitive advantage<br />How this relates to pricing (more next session)<br />©Business Success Center, Austin, TX 2011. All rights reserved.<br />12<br />Positioning, Competition, Pricing<br />What’s in your store?<br />
    16. 16. ©Business Success Center, Austin, TX 2011. All rights reserved<br />13<br />Capital Kia- Austin, TX<br />What’s the Tag line? Who’s the focus?<br />
    17. 17. ©Business Success Center, Austin, TX 2011. All rights reserved<br />14<br />What’s the positioning? What’s WIFC? What’s different from the Kia dealer?<br />
    18. 18. 15<br />Same customer as Kia? Appeal?<br />
    19. 19. Don’t be foolish. Look at all parts of your business to make a bigger marketing impact.<br />Staff and ongoing training<br />Greeting customers<br />Answering phone<br />Customer support<br />Billing<br />Pricing<br />Special events<br />Strategic Partners<br />Store arrangement/merchandising<br />©Business Success Center, Austin, TX 2011. All rights reserved.<br />16<br />Best Marketing Mgmt Processes<br />What do you do?<br />
    20. 20. ©Business Success Center, Austin, TX 2011. All rights reserved<br />17<br />Will this bring sales?<br />Maybe for a specific kind of customer who doesn’t feel they have to come in.<br />
    21. 21. ©Business Success Center, Austin, TX 2011. All rights reserved.<br />18<br />Or this? Shoppers saved $3.7 billion in coupons in 2010. 332 billion coupons distributed (largest number ever) 87% of coupons were inserts 5.2% handed out in stores 37% increase in online coupons.<br />
    22. 22. 19<br />Web wonders at a cost of 5K?<br />
    23. 23. 20<br />Podcasts and other social media vs. Traditional Personal Media<br />http://www.peoplespharmacy.com/radio-shows/<br />Worth $400-$600 a week to create? People’s Pharmacy<br />Time and effort for Twitter? FaceBook? Blogs?<br />Bloggers United, 2Mon, 2-4pm All Welcome<br />Traditional PR and Promotion?<br />Value of strategic alliances? More in next series.<br />©Business Success Center, Austin, TX 2011. All rights reserved<br />
    24. 24. 21<br />B&W AdsCheaper, but do they work?<br />
    25. 25. ©Business Success Center, Austin, TX 2010. All rights reserved<br />22<br />Simple & focused usually wins<br />
    26. 26. ©Business Success Center, Austin, TX 2010. All rights reserved<br />23<br />
    27. 27. ©Business Success Center, Austin, TX 2010. All rights reserved<br />24<br />
    28. 28. ©Business Success Center, Austin, TX 2011. All rights reserved<br />25<br />Free? Hardly.<br />
    29. 29. ©Business Success Center, Austin, TX 2011. All rights reserved.<br />26<br />Only 15% of customers loyal; Account for 55-70% of all sales. Loyalty is the goal. Coupons only short-term.<br />
    30. 30. Loyalty Program<br />CRM program<br />Suggestive selling/ package deals<br />Go Local Card<br />Special recognition of your Platinum customers <br />Getting more from each sale<br />©Business Success Center., Austin, TX 2011. All rights reserved.<br />27<br />Recommended Marketing Strategies<br />
    31. 31. © Business Success Center, Austin, TX 2011 All rights reserved.<br />28<br />Market to Your Platinum Customers, Your Key to Long Term Success<br />They are:<br /><ul><li>Open
    32. 32. Actively refer
    33. 33. Provide Quality Control
    34. 34. Are engaged & offer ideas
    35. 35. Want a relationship
    36. 36. Likeable
    37. 37. Trustworthy
    38. 38. Hassle free or hassle less customers </li></ul>Focus on marketing that is meaningful to them, not just anyone.<br />
    39. 39. People<br />Problem/Goal<br />Product Mix<br />Positioning<br />Competitive Advantage<br />Pricing<br />Management Process<br />©Business Success Center, Austin, TX 2011. All rights reserved<br />29<br />BSC’s 7 Steps to Marketing Success<br />
    40. 40. Angel Customers and Demon Customers by Selden & Colvin<br />Blue Ocean Strategy by Kim & Mauborgne<br />Customers for Life by Sewell & Brown<br />Think Like Your Customer by Bill Stinnett<br />Online: http://www.retailwire.com<br />More recommended reading at my blog: http://www.ownersview.com<br />©Business Success Center, Austin, TX 2010. All rights reserved<br />30<br />Worth Checking Out<br />
    41. 41. © Business Success Center, Austin, TX 2011 All rights reserved.<br />31<br />Homework (complete & bring next week)<br />Ask each staff person who is the best customer and why.<br />Look at your sales history and create a list of the top 5 customers. When was the last time they were in the store? Last purchase?<br />Look at all your marketing collateral and online marketing efforts.<br /> A. Is it aimed at your best customers? <br /> B. What is your best return in terms of time & $$?<br /> C. What was the worst? <br /> D. What needs to change for better results?<br /> E. Id your best marketing strategy to reconnect. <br />
    42. 42. Here’s to your success!<br />Jan Tripletttriplett@runitright.biz<br />Jan Triplett<br />Blog: http://www.ownersview.com<br />(512) 933-1983<br />Dan Diener<br />ddiener@runitright.biz<br />©Business Success Center, Austin, TX 2011. All rights reserved.<br />32<br />

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